Asteroid Industries accumulated the following cost information for the year: Direct materials $16,000 Indirect materials 4,000 Indirect labor 8,500 Factory depreciation 12,800 Direct labor 37,000 Using the above information, total factory overhead
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A month-end bank statement shows a balance of $26,000, outstanding checks are $10,000, a deposit of $2,000 was in transit at month end, and a check for $200 was erroneously charged by the bank against the account.
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